Cineverse and Banyan have launched MicroCo, a new venture focused on short-form content tailored for mobile platforms, led by industry experts.
Cineverse and Banyan Launch MicroCo: A New Era in Short-Form Content
Cineverse and Lloyd Braun’s venture firm Banyan have teamed up to unveil MicroCo, a short-form, mobile-first studio, led by industry veterans Jana Winograde and Susan Rovner in key executive roles.
MicroCo’s Vision and Market Potential
MicroCo, a 50-50 joint venture, is set to become a dedicated supplier of series for mobile platforms. Analysts project the market to reach $10 billion outside China by 2027, with Hispanic media giants Univision and Telemundo recently announcing initiatives around ‘micro-novelas.’ Currently, no premium U.S. outlet exists for these small-form dramas.
Leadership and Strategic Direction
Banyan, the investment arm of Braun, former ABC entertainment chief, and WME chairman, is poised to make waves. Cineverse gained recognition last year with the success of the low-budget horror film Terrifier 3. The company has transitioned from cinema equipment to streaming, building a lineup of films including new adaptations of Toxic Avenger and Air Bud. Chris McGurk, a former Disney and Universal executive, serves as Cineverse’s CEO.
Innovative Storytelling and Content Creation
Winograde, the former president of entertainment for Showtime Networks, will lead MicroCo as CEO. Rovner, previously president of Warner Bros. Television, will take on the role of Chief Creative Officer, joining in October while continuing her work with AHA Studios.
MicroCo aims to produce original content lasting one to three minutes per episode, collaborating with content creators to provide new programming avenues. The shows will encompass various genres, from romance to horror, featuring both live-action and animated formats. Unlike Quibi, which launched during the pandemic as a subscription service, MicroCo will supply programming to multiple outlets with lower overhead costs.
Embracing the Future of Content Consumption
“The average person scrolls through hundreds of feet of content daily, but almost none of it is built to last,” Braun stated. “We’re merging the storytelling rigor of series television with the pace and intimacy of short-form, creating addictive, emotionally rich series tailored for today’s consumption habits.”
McGurk emphasized that MicroCo will combine innovative storytelling with cutting-edge technology, supported by a leadership team of successful media executives, aiming to redefine the studio and platform landscape.
See More ...
Diverse Revenue Streams and Strategic Focus
The joint venture’s backers see revenue diversification in short-form content as a significant advantage, integrating advertising, retail, personalized subscriptions, and product placements.
Winograde highlighted the company’s commitment to adapting to the shift towards social and mobile viewing, with programming designed for sharing. “We have the tools to meet fans in their native ecosystems and draw them into this new format built just for them,” she noted.
Alongside McGurk, Braun, Winograde, and Rovner, key executives at MicroCo will include Erick Opeka, president and chief strategy officer at Cineverse.
“By applying Hollywood best practices to a global format that has thrived in Asia but remains untapped in the U.S., we believe MicroCo is uniquely positioned to lead this space,” Opeka concluded.
